A ranking method assigns to every weighted directed graph a (weak) orderingof the nodes. In this paper we axiomatize the ranking method that ranksthe nodes according to their outflow using four independent axioms. This outflowranking method generalizes the ranking by outdegree for directed...

Risk managers use portfolios to diversify away the unpriced risk of individual securities. In this article we compare the benefits of portfolio diversification for downside risk in case returns are normally distributed with the case of fat-tailed distributed returns. The downside risk of a...

This paper explores the determinants of deviations of ex-post budget outcomes from first-release outcomes published towards the end of the year of budget implementation. The predictive content of the first-release outcomes is important, because these figures are an input for the next budget and...

This paper makes use of a new dataset to investigate energy intensity developments in the Netherlands over the period 1987-2005. The dataset allows for a comparison with 18 other OECD countries. A key feature of our analysis is that we combine a cross-country perspective with a high level of...

We propose a method of measuring and decomposing inequity in health care utilisation that allows for heterogeneity in the use-need relationship. This makes explicit inequity that derives from unequal treatment response to variation in need, as well as that due to differential effects of non-need...